| 1 | 1 | | SECONDREGULARSESSION |
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| 2 | 2 | | HOUSEBILLNO.2107 |
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| 3 | 3 | | 102NDGENERALASSEMBLY |
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| 4 | 4 | | INTRODUCEDBYREPRESENTATIVECHRISTOFANELLI. |
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| 5 | 5 | | 3683H.01I DANARADEMANMILLER,ChiefClerk |
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| 6 | 6 | | ANACT |
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| 7 | 7 | | Toamendchapter67,RSMo,byaddingtheretoonenewsectionrelatingtodigitalassets. |
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| 8 | 8 | | BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows: |
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| 9 | 9 | | SectionA.Chapter67,RSMo,isamendedbyaddingtheretoonenewsection,tobe |
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| 10 | 10 | | 2knownassection67.2060,toreadasfollows: |
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| 11 | 11 | | 67.2060.1.Thissectionshallbeknownandmaybecitedasthe"Blockchain |
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| 12 | 12 | | 2BasicsAct". |
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| 13 | 13 | | 3 2.Asusedinthissection,thefollowingtermsmean: |
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| 14 | 14 | | 4 (1)"Blockchain",datathatis: |
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| 15 | 15 | | 5 (a)Sharedacrossanetworktocreatealedgerofverifiedtransactionsor |
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| 16 | 16 | | 6informationamongnetworkparticipantslinkedusingcryptographytomaintainthe |
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| 17 | 17 | | 7integrityoftheledgerandtoexecuteotherfunctions;and |
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| 18 | 18 | | 8 (b)Distributedamongnetworkparticipantsinanautomatedfashionto |
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| 19 | 19 | | 9concurrentlyupdatenetworkparticipantsonthestateoftheledgerandanyother |
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| 20 | 20 | | 10functions; |
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| 21 | 21 | | 11 (2)"Blockchainprotocol",anyexecutablesoftwaredeployedtoablockchain |
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| 22 | 22 | | 12composedofsourcecodethatispubliclyavailableandaccessibleincluding,butnot |
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| 23 | 23 | | 13limitedto,asmartcontractoranynetworkofsmartcontracts; |
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| 24 | 24 | | 14 (3)"ConsumerPriceIndex",theConsumerPriceIndexforAllUrban |
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| 25 | 25 | | 15Consumers(CPI-U),1982-1984=100,notseasonallyadjusted,asdefinedandofficially |
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| 26 | 26 | | 16recordedbytheUnitedStatesDepartmentofLabor,oritssuccessoragency,from |
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| 27 | 27 | | 17JanuaryfirstofthecurrentyearcomparedtoJanuaryfirstoftheprecedingyear; |
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| 28 | 28 | | EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis |
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| 29 | 29 | | intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 18 (4)"Digitalasset",virtualcurrency,cryptocurrencies,nativelyelectronicassets |
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| 30 | 30 | | 19including,butnotlimitedto,stablecoinsandnonfungibletokens,andotherdigital-only |
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| 31 | 31 | | 20assetsthatconfereconomic,proprietary,oraccessrightsorpowers; |
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| 32 | 32 | | 21 (5)"Digitalassetmining",usingelectricitytopoweracomputerornodeforthe |
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| 33 | 33 | | 22purposeofsecuringablockchainnetwork; |
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| 34 | 34 | | 23 (6)"Digitalassetminingbusiness",agroupofcomputersworkingthat |
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| 35 | 35 | | 24consumesmorethanonemegawattofelectricityforthepurposeofsecuringa |
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| 36 | 36 | | 25blockchainprotocol; |
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| 37 | 37 | | 26 (7)"Discriminatoryrates",thechargingofratesforelectricitythatare |
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| 38 | 38 | | 27substantiallydifferentfromtherateschargedforotherindustrialusesofelectricityin |
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| 39 | 39 | | 28similargeographicareas; |
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| 40 | 40 | | 29 (8)"Homedigitalassetmining",digitalassetmininginanareazonedfor |
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| 41 | 41 | | 30residentialuse; |
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| 42 | 42 | | 31 (9)"Node",acomputationaldevicethatcontainsandupdatesacopyofa |
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| 43 | 43 | | 32blockchain; |
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| 44 | 44 | | 33 (10)"Self-hostedwallet",adigitalinterfaceusedtosecureandtransferdigital |
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| 45 | 45 | | 34assetsunderwhichtheownerofthedigitalassetretainsindependentcontroloverthe |
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| 46 | 46 | | 35digitalassetsthataresecuredbysuchdigitalinterface; |
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| 47 | 47 | | 36 (11)"Staking",usinganodetolockdigitalassetsinordertooperatethe |
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| 48 | 48 | | 37consensusmechanismofablockchainprotocol. |
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| 49 | 49 | | 38 3.Thestateshallnotprohibit,restrict,orotherwiseimpairtheabilityofan |
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| 50 | 50 | | 39individualto: |
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| 51 | 51 | | 40 (1)Usedigitalassetstopurchaselegalgoodsorservices;or |
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| 52 | 52 | | 41 (2)Self-custodydigitalassetsusingaself-hostedwalletorthird-partywallet. |
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| 53 | 53 | | 42 4.Digitalassetsusedasamethodofpaymentshallnotbesubjecttoany |
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| 54 | 54 | | 43additionaltax,withholding,assessment,orchargebythestateorapoliticalsubdivision |
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| 55 | 55 | | 44thatisbasedsolelyontheuseofthedigitalassetasthemethodofpayment. |
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| 56 | 56 | | 45 5.Digitalassetsusedasamethodofpaymentshallnotbesubjecttocapitalgains |
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| 57 | 57 | | 46taxsubjecttoatwo-hundred-dollarlimitpertransaction.Thelimitationamountshall |
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| 58 | 58 | | 47beadjustedforinflationonJanuaryfirstannuallybasedonthepercentageincreasein |
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| 59 | 59 | | 48theConsumerPriceIndex.Thissubsectionshallnotbeconstruedtoprohibitthestate |
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| 60 | 60 | | 49orapoliticalsubdivisionfromimposingorcollectingatax,withholding,assessment,or |
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| 61 | 61 | | 50chargethatwouldotherwisebeofferedifthetransactionhadtakenplacewithUnited |
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| 62 | 62 | | 51Stateslegaltender. |
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| 63 | 63 | | 52 6.(1)Neitherthestatenorapoliticalsubdivisionthereofshallprohibitan |
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| 64 | 64 | | 53individualfromparticipatinginhomedigitalassetminingaslongassuchindividual |
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| 65 | 65 | | 54complieswithalllocalnoiseordinances. |
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| 66 | 66 | | HB2107 2 55 (2)Nopoliticalsubdivisionshallplaceanyspecificlimitonsounddecibels |
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| 67 | 67 | | 56generatedfromhomedigitalassetminingthatismorerestrictivethanotherlimitsset |
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| 68 | 68 | | 57forsoundpollutionenforcedbythepoliticalsubdivision. |
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| 69 | 69 | | 58 7.(1)Neitherthestatenorapoliticalsubdivisionthereofshallprohibitadigital |
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| 70 | 70 | | 59assetminingbusinessfromoperatinginanyareazonedforindustrialuse. |
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| 71 | 71 | | 60 (2)Nopoliticalsubdivisionshallplaceanyspecificlimitonsounddecibels |
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| 72 | 72 | | 61generatedfromadigitalassetminingbusinessthatismorerestrictivethanothergeneral |
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| 73 | 73 | | 62limitssetforsoundpollutioninareaszonedforindustrialuse. |
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| 74 | 74 | | 63 8.Nopoliticalsubdivisionshallimposeanyrequirementonadigitalassetmining |
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| 75 | 75 | | 64businessthatisnotalsoarequirementfordatacentersinitsjurisdiction. |
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| 76 | 76 | | 65 9.Nopoliticalsubdivisionshallchangethezoningofadigitalassetmining |
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| 77 | 77 | | 66businesswithoutsatisfyingpropernoticeandcommentrequirements.Adigitalasset |
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| 78 | 78 | | 67miningbusinessshallbeabletoappealachangeinzoningtoacourtwithproper |
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| 79 | 79 | | 68jurisdiction.Ajudgeshallfindaviolationofthissectionandnullifysuchachangein |
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| 80 | 80 | | 69zoningifthejudgedeterminesthechangewasdonetodiscriminateagainstadigital |
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| 81 | 81 | | 70assetminingbusiness. |
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| 82 | 82 | | 71 10.Thepublicservicecommissionshallnotestablisharateschedulefordigital |
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| 83 | 83 | | 72assetminingthatcreatesdiscriminatoryratesfordigitalassetminingbusinesses. |
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| 84 | 84 | | 73 11.Anyoneengagedinhomedigitalassetminingoradigitalassetmining |
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| 85 | 85 | | 74businessshallnotbeconsideredamoneytransmitterundersections361.700to361.727. |
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| 86 | 86 | | 75 12.Thestateshallnotprohibitanindividualfrom: |
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| 87 | 87 | | 76 (1)Operatinganodeforthepurposeofconnectingtoablockchainprotocolora |
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| 88 | 88 | | 77protocolbuiltontopofablockchainprotocolandtransferringdigitalassetsona |
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| 89 | 89 | | 78blockchainprotocol;or |
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| 90 | 90 | | 79 (2)Participatinginstakingonablockchainprotocol. |
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| 91 | 91 | | 80 13.Anindividualorbusinessoperatinganodeoraseriesofnodesona |
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| 92 | 92 | | 81blockchainprotocolshallnotberequiredtoobtainamoneytransmitterlicenseunder |
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| 93 | 93 | | 82sections361.700to361.727toengageinsuchactivity. |
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| 94 | 94 | | 83 14.Nobusinessofferingtoprovidedigitalassetminingorstakingservicesfor |
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| 95 | 95 | | 84individualsortootherbusinessesshallbeconsideredasofferingasecurityor |
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| 96 | 96 | | 85investmentcontractunderstatelaw. |
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| 97 | 97 | | 86 15.Notwithstandinganyotherprovisionoflawtothecontrary,noindividualor |
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| 98 | 98 | | 87entityshallfaceliabilityrelatedtoaspecifictransactionmerelybyvalidatingsuch |
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| 99 | 99 | | 88transactionifsuchindividualorentity: |
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| 100 | 100 | | 89 (1)Engagesindigitalassetmining; |
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| 101 | 101 | | 90 (2)Operatesanodeorseriesofnodesonablockchainnetwork;or |
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| 102 | 102 | | HB2107 3 91 (3)Providesdigitalassetminingorstakingservicesforindividualsorother |
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| 103 | 103 | | 92businesses. |
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| 104 | 104 | | âś” |
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| 105 | 105 | | HB2107 4 |
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